Investors Prompted to Collect Overdue Dividends Directly through First Abu Dhabi Bank (FAB) by SCA

Investors Prompted to Collect Overdue Dividends Directly through First Abu Dhabi Bank (FAB) by SCA

In the United Arab Emirates, shareholders who have missed out on dividends before March 2015 can now claim them through the Securities and Commodities Authority (SCA) and its authorised financial institutions, such as First Abu Dhabi Bank (FAB).

To initiate the claim, you will need to access FAB's "Investment Banking - Unclaimed Dividends" service. This service is designed to help investors reclaim their outstanding dividends.

To use FAB’s service, you will typically need to provide key identification documents and proof of ownership of the securities associated with the dividends. While the exact checklist of documents required by FAB may vary, common documents generally include:

1. A valid Emirates ID or passport for identification.
2. Proof of holding/shares, such as original share certificates or a brokerage statement.
3. A completed claim form provided by the bank.
4. Any additional documents requested to verify your entitlement to the dividends.

To start the process, you would usually contact FAB’s investment banking or customer service team, submit the required documents, and follow their verification process.

However, the specific steps and detailed document list for claiming outstanding dividends through FAB's service were not found in the search results. For the most accurate and updated instructions, it is advisable to visit the official FAB website or contact FAB directly.

It is important to note that the SCA, while overseeing securities, does not handle dividend claims directly. Instead, banks like FAB serve as intermediaries for dividend distribution and unclaimed dividend claims.

Once all required documents are provided, FAB will process and transfer the dividends to your account within 10 business days. If a complaint is not resolved by FAB, investors can escalate the matter to the SCA at [email protected].

The SCA is committed to streamlining the dividend collection process and ensuring it aligns with shareholder expectations and the UAE government’s vision of delivering world-class services. This initiative is part of the SCA's ongoing efforts to safeguard shareholder rights.

In summary:

• To claim outstanding dividends, use financial institutions like FAB authorised by the SCA.
• FAB’s "Investment Banking - Unclaimed Dividends" service requires identification, proof of share ownership, and completed claim forms.
• For the most accurate and updated instructions, visit the official FAB website or contact FAB directly.
• The SCA regulates securities but does not handle dividend claims directly.

1. Investors in the UAE can reclaim their outstanding dividends through the Securities and Commodities Authority (SCA) and its authorized financial institutions, like First Abu Dhabi Bank (FAB), which offers an "Investment Banking - Unclaimed Dividends" service.
2. To initiate a claim for unclaimed dividends with FAB, investors will typically need to provide identification documents, proof of share ownership, a completed claim form, and any additional documents to verify their entitlement to the dividends.
3. After submitting the required documents and completing FAB's verification process, the bank will transfer the dividends to the investor's account within 10 business days, if no issues arise. In case of disagreements, investors can escalate the matter to the SCA.

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